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Appearances Over Time

Podcast Appearances

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

And the answer was five to seven years.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

So the first million you add would take longer.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

Right, right.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

And you could keep going up from there.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

I also am talking to refiners.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

So Venezuela produces what is called heavy sour crude, which is a different sort of crude than in West Texas.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

They produce what's called light sweet crude.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

you refine them very, very differently.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

Now, it so happens that the refineries that were built to handle heavy sour crude are along the Gulf Coast.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

They're in Texas and Louisiana.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

And so we've got the capacity.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

I've been told that the Gulf Coast refineries could almost overnight refine an additional 250,000 barrels of the heavy crude from Venezuela.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

Now, interestingly enough, when I've asked the refiners, okay, what would the trade-off be?

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

What would the impact be, say, for West Texas producers?

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

The refiners, at least, were not that concerned about it, and they said, look, the other producers of heavy crude are Canada, and so the tar sands in Alberta, and I said, look, more Venezuelan crude would impact Canada, and actually Mexico.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

Mexico also produces similar crude to what Venezuela and Canada produce, and so

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

That, in terms of the impact, those are the tradeoffs, and that's the kind of decision-making the Trump administration is engaged in right now.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

So look, the Cuban regime has been a communist dictatorship since 1959.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

As you know, that for me is not some abstract statement because my family was directly involved in it.

Verdict with Ted Cruz
Oil Means National Security, Rep. Jim Jordan vs Jack Smith & Crime Crashes Coast‑to‑Coast Week In Review

My dad was a kid.